Hi Traders,
Here we have a Fibonacci study drawn on a daily chart for the EUR/CAD pair. Friday's close saw a hammer formation push above the 61% retracement after a week spent forming a support base at 50%.
The line below EUR/CAD shows the direction of CAD/CHF and the clear, negative correlation between the two pairs. As it stands I'm looking for long entries with EUR/CAD in conjunction with short entries in the CAD/CHF pair.
Happy trading!
Here we have a Fibonacci study drawn on a daily chart for the EUR/CAD pair. Friday's close saw a hammer formation push above the 61% retracement after a week spent forming a support base at 50%.
The line below EUR/CAD shows the direction of CAD/CHF and the clear, negative correlation between the two pairs. As it stands I'm looking for long entries with EUR/CAD in conjunction with short entries in the CAD/CHF pair.
Happy trading!